The global beauty industry will hit a value of $670 billion by the end of this year, according to Euromonitor International, with an average annual growth of 9% over the next four years.
And that's not counting packaging, which is expected to grow at a slightly slower rate of 6% over the same period.
CNBC reports on some of the bright spots in the industry, which it says is being helped by "post-pandemic beauty market growth," as well as by a shift toward more local brands in China.
For example, Italian manufacturer Intercos Group says sales in its hair and body unit were up 47% last year, while sales in its makeup division were up 9.5%.
"The hair and body unit enabled us to sustain our growth at a specific category or fully grasp many opportunities the sector is offering," the company's CEO tells CNBC.
Read the Entire Article
A customized collection of news from foundations from around the Web.
HootSuite CEO Ryan Holmes says “…social tools are getting more broadly adopted across organizations. It’s not just marketing anymore, it’s sales, public relations, human relations, everywhere.”